（文章来源：第一财经） 据外媒报道，芝商所（CME）表示，EBS市场将于格林威治时间12:00重新开放。 ...

Core Insights - An outage at CME Group, the world's largest exchange operator, disrupted trading on its currency platform and affected futures across various sectors including foreign exchange, commodities, Treasuries, and stocks [1] Company Impact - The outage halted trading activities on CME Group's popular currency platform, indicating a significant operational disruption [1] - The incident highlights the vulnerability of trading platforms to technical failures, which can have widespread implications across multiple asset classes [1] Industry Implications - The disruption at CME Group raises concerns about the reliability of major trading platforms in the financial markets [1] - Such outages can lead to increased volatility and uncertainty in the markets, affecting investor confidence and trading strategies [1]

11月28日，芝加哥商业交易所集团（CME，简称"芝商所"）官网发布多份通知表示，称因CyrusOne数 据中心出现冷却问题，CME的商品期货和期权交易暂停交易。 芝商所是全球金融交易的巨头平台。截至发稿，该平台交易尚未恢复。在一份声明中，芝商所表 示："支持人员正努力在短期内解决该问题，并将在开市前详细信息公布后立即向客户提供建议。" 公开信息显示，全球数据中心服务商CyrusOne总部位于美国得克萨斯州的达拉斯，在美国、欧洲和日 本等地运营着超过55个数据中心。 随着企业对人工智能模型训练和部署的需求不断增长，传统数据中心已越来越难以满足需求。这种密度 变化不仅带来了空间挑战，也带来了传统冷却系统无法应对的热负荷。 今年7月，CyrusOne还宣布推出Intelliscale数据中心平台，应对人工智能和高密度计算带来的电力和基础 设施需求激增。该公司表示，Intelliscale的设计可满足高达300千瓦（kw）的机架密度，采用紧凑、可 扩展的设计，占用空间仅为传统数据中心的几分之一。 国内数据中心基础设施提供商图灵新智算创始人CEO刘淼对第一财经记者表示，随着各大交易平台的交 易系统越来越复杂，尤其是在 ...

据介绍，CyrusOne的数据中心采用了先进的技术和设备，包括高效的冷却系统、先进的物理安全措施 以及全球网络连接，为客户提供数据存储和处理环境。 在全球超大规模数据中心中占主导地位的制冷设备提供商包括维谛（Vertiv）、施耐德电气、伊顿等工 业设备巨头。 11月28日，芝加哥商业交易所集团（CME，简称"芝商所"）官网发布多份通知表示，称因CyrusOne数 据中心出现冷却问题，CME的商品期货和期权交易暂停交易。 芝商所是全球金融交易的巨头平台。截至发稿，该平台交易尚未恢复。在一份声明中，芝商所表 示："支持人员正努力在短期内解决该问题，并将在开市前详细信息公布后立即向客户提供建议。" 公开信息显示，全球数据中心服务商CyrusOne总部位于美国得克萨斯州的达拉斯，在美国、欧洲和日 本等地运营着超过55个数据中心。 此次数据中心技术故障正值美国市场周四感恩节放假，预计周五开盘后交易量不大。 国内数据中心基础设施提供商图灵新智算创始人CEO刘淼对第一财经记者表示，随着各大交易平台的交 易系统越来越复杂，尤其是在引入人工智能（AI）功能以后，交易数据也大幅增长，导致整个基础设 施不稳定的情况加剧，数据中心宕 ...

Market Disruptions and Data Center Challenges - CME Group has halted trading across major platforms due to a cooling system issue at CyrusOne data centers, affecting Globex futures, options, and foreign exchange markets [2][7] - The disruption has frozen pricing data for key indices such as the S&P 500, Nasdaq 100, and 10-year U.S. Treasuries, as well as commodities like gold and oil, creating market uncertainty [2][7] - CyrusOne operates over 55 data centers globally and serves approximately 1,000 customers, and is actively addressing the cooling system problem [3] UK Fiscal Health Under Scrutiny - S&P Global Ratings has assessed the UK's fiscal position as "vulnerable," despite revenue-generating measures in the Autumn 2025 Budget, projecting ongoing fiscal pressures due to structural spending demands and subdued economic growth [4] - The UK maintains an "AA" sovereign credit rating with a stable outlook, but its fiscal health is a significant constraint on this rating [4] EU Defense Fund Negotiations - Negotiations for the UK to join the EU's €150 billion defense fund have failed, highlighting ongoing divergences between London and Brussels regarding financial contributions [5][7] Geopolitical Diplomacy and Frozen Assets - Russian President Putin has expressed willingness to hold talks on Ukraine with the U.S. in Budapest, a proposal welcomed by Hungarian Prime Minister Orban [6][7] - The EU is in discussions with member states, particularly Belgium, about using frozen Russian assets (approximately €140 billion or $162 billion) to support Ukraine, while seeking legal frameworks to mitigate financial and legal risks [7][8]

Core Insights - A data-center fault at the Chicago Mercantile Exchange (CME) led to a halt in trading of futures and options, causing significant disruption across various markets [1][2] - The malfunction was attributed to cooling system issues at a data center operated by CyrusOne, with no clear timeline for the resumption of normal operations provided [1][2] Market Impact - The outage has already exceeded a similar technical error from 2019, highlighting the extensive influence of CME Group Inc. and its Globex electronic trading platform [2] - The disruption has raised concerns among market participants about the potential loss of a trading session, affecting millions of contracts linked to major indices like the S&P 500, Dow Jones Industrial Average, and Nasdaq 100 [2] Trading Challenges - The halt in trading particularly complicates the operations of equity-derivatives desks, as options on the S&P 500 with a notional value of approximately $600 billion were set to expire on the same day [6] - Traders are facing difficulties in rolling positions from one monthly contract to another, leading to frustration among those holding positions during the outage [4] Commodity Market Effects - Gold experienced erratic price movements, with bid-ask spreads significantly wider than usual, while US crude oil and palm oil markets were also impacted [5] - The timing of the disruption coincided with the expiry of gasoline and diesel futures, which could complicate settlement processes [5]

Market Overview - U.S. stock futures showed slight gains, with the Dow Futures at 47,542, up 52 points or 0.11%, and S&P 500 Futures at 6,835, up 0.10% [1] - November was a challenging month for equities, with major indexes experiencing a pullback, particularly in megacap tech stocks, leading to a 2% drop in the Nasdaq [1] Federal Reserve Expectations - Market sentiment improved as traders increased expectations for a Federal Reserve rate cut in December, with futures pricing indicating over an 80% probability of a quarter-point cut [2] AI and Tech Stocks - Renewed optimism in AI stocks contributed positively to market sentiment, although trading momentum was paused due to the Thanksgiving break [3] - Tech stocks exhibited mixed performance, with notable movements in companies like NVIDIA, Cleanspark, and SanDisk, reflecting ongoing interest in the semiconductor and storage sectors [8] Trading Disruptions - A cooling system failure at CME Group's CyrusOne data centers caused a significant disruption, halting futures and options trading for several hours, impacting liquidity across multiple markets [3][5] Commodity Markets - Gold futures increased, hovering near $4,160 an ounce, benefiting from lower borrowing-cost expectations and a favorable outlook for a December rate cut [9] - Oil prices continued to decline, with Brent crude trading above $63 per barrel, marking the longest losing streak since May 2023, as traders remain cautious ahead of the OPEC+ meeting [10] Future Market Projections - Wall Street banks have begun releasing forecasts for the S&P 500 in 2026, with Deutsche Bank projecting a target of 8,000, while HSBC and JPMorgan expect a more moderate target of around 7,500 [12]

Core Insights - A significant technical outage has disrupted trading operations at CME Group, affecting various platforms including foreign exchange, commodities, Treasuries, and equity futures [1][2]. Group 1: Outage Details - The outage was caused by a critical cooling system failure at a third-party facility, specifically at CyrusOne data centers, which are essential for CME's infrastructure [2][3]. - CME confirmed the cooling issue and stated that technical support teams are working to resolve the situation promptly [3]. Group 2: Impact on Trading - The halt in trading began just before 0300 GMT and affects all futures and options contracts on the Globex platform, leading to a cessation of price updates for major global benchmarks [4]. - The EBS foreign exchange platform, crucial for trading major currency pairs, is also offline, although traders have managed to execute trades on alternative venues [4]. Group 3: Market Context - The outage occurred on a truncated trading day following the Thanksgiving holiday, which was expected to have thin liquidity, complicating the situation for traders managing positions [5]. - Despite the outage, pre-market trading showed positive movement, with SPDR S&P 500 ETF Trust (SPY) up 0.29% at $681.66 and Invesco QQQ Trust ETF (QQQ) up 0.33% to $616.31 [5].

编辑｜钉钉 当地时间11月28日（周五）上午，芝商所因CyrusOne数据中心出现冷却问题，导致商品期货和期权交 易暂停。 记者｜齐琦 针对系统故障，芝商所相关负责人回应第一财经："由于CyrusOne数据中心发生制冷问题，我们的市场 目前已暂停交易。技术支持团队正努力在短期内解决该问题，并将开市前的详情（如恢复交易时间、订 单处理方式等）确定后尽快通知客户。" ...

Group 1 - Chicago Mercantile Exchange experienced a trading halt due to a data center failure, disrupting various markets including stocks, forex, bonds, and commodities, causing widespread dissatisfaction among market participants [1] - Chinese concept stocks saw a pre-market rally, with Pinduoduo up 0.69%, JD.com up 1.29%, NIO up 1.46%, and Xpeng up 1.32% [1] - Technology stocks mostly rose in pre-market trading, with Micron Technology up 2%, Qualcomm up over 1%, and Google A up over 1% [1] Group 2 - Oracle is in talks with multiple banks for a new loan of up to $38 billion, aimed at expanding infrastructure for OpenAI, while Oracle's stock fell by 1.64% [1] - Apple has filed a lawsuit in the Delhi High Court against a potential $38 billion fine from India's antitrust agency, which is investigating complaints of "abuse" related to high commissions for in-app purchases, with Apple's stock rising by 0.34% [2] - TSMC has sued a former executive for allegedly stealing trade secrets and joining Intel, claiming the individual may have disclosed confidential information to Intel, while Intel denies the allegations [2] - JPMorgan predicts the Federal Reserve will cut interest rates by 25 basis points in December, contradicting previous expectations of maintaining rates until January, following hints from key officials about earlier rate cuts [2]